MediaWorks secured a CAN$250 million ($233 million) revolving facility and a CAN$250 million term loan ($233 million) from a syndicate led by the Bank of Nova Scotia along with a CAN$450 million ($420.5 million) institutional loan from Scotia Capital and Citi.

The proceeds of the new financing will be used to refinance a CAN$1.3 billion short-term loan facility announced May 25.